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Connected: 24 Hours in the Global Economy Hardcover – May 1, 2007

3.9 out of 5 stars 10 customer reviews

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Editorial Reviews

From Publishers Weekly

Altman's overview of the world's economic workings is useful and informative, though surprisingly dutiful considering the author's promise of a "whirlwind tour." Moving briskly between topics—pegged to an hour-by-hour timeline gimmick—he discusses many concepts: exchange rates, trade deficits, international deals, currency markets, corruption, financial derivatives, technological innovation, the importance of oil. While addressing the outsized role of the U.S., Altman offers valuable glimpses of key foreign economies and leaves us with a solid understanding of how they fit into "the world trading system." "If you want to cope with connectedness," journalist Altman writes, "you have to be as connected as you can—in other words, you have to pay attention to what's happening in the rest of the world." Granted, anyone who's already paying attention will find much of the book's information somewhat remedial. And Altman's attitude toward globalization is so studiously evenhanded and argument-free that the reader may long for the glossy zeal of an advocate like Thomas Friedman or a detractor like Lou Dobbs. Still, as global macroeconomic primers go, this is a quick read that reminds us that we're all in this together—and that many of us have an awful lot to learn to keep up with the global economy. (May 1)
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.


“Altman's book offers a Wall-Street-smart and yet deeply intellectual understanding of our amazingly complex and dynamic world economy.  He gives the reader a revealing perspective by viewing the economy at various magnifications, from little vignettes of individuals' experiences on a single day to grand observations on how it all works together.”   —Robert Shiller, Professor of Economics and Finance, Yale University; Chief Economist, MacroMarkets LLC; and author of Irrational Exuberance
“Instead of the usual heavy and indigestible fare, Daniel Altman cleverly serves bite-size, tasty portions of economic insight that will leave readers hungry for more.”   —Sylvia Nasar, author, A Beautiful Mind 
“There is a flood of books on Globalization, ranging from the bad to the good. To say something new seems beyond anyone's ability. Yet Dan Altman succeeds in doing just that. He makes the subject come alive, as only a gifted journalist can, by telling us in depth stories such as that of East Timor's struggles with new riches which illuminates the controversy that divides technocarts who want to push aid flows dramatically and the equally committed internationalists who worry about absorptive capacity. Buy, read and enjoy while getting instructed.”   —Jagdish Bhagwati, University Professor, Columbia University, and author of In Defense of Globalization

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Product Details

  • Hardcover: 304 pages
  • Publisher: Farrar, Straus and Giroux; First edition (May 1, 2007)
  • Language: English
  • ISBN-10: 0374135320
  • ISBN-13: 978-0312428099
  • Product Dimensions: 8.6 x 5.8 x 1.1 inches
  • Shipping Weight: 1 pounds
  • Average Customer Review: 3.9 out of 5 stars  See all reviews (10 customer reviews)
  • Amazon Best Sellers Rank: #4,241,432 in Books (See Top 100 in Books)

Customer Reviews

Top Customer Reviews

By Reg Nordman on July 26, 2007
Format: Hardcover
This is the penultimate insiders view of the world economy as Altman ( a serious business journalist with a PhD.), lets you peek inside the worlds of a dozen decision maker/influencers/ordinary people in many countries, in the same24 hr period. Fascinating and much more insightful than The World is Flat. I can never read the world business news the same way again. It caused me to renew my online The Economist subscription. I appreciated the inside views on currency exchanges, credit and inflation. The story of Haier in China - delightful vignettes. I had forgotten how much Japan lacked competition until pointed out by Altman. The background on why the US will continue to force its dollar lower is worth the book price. The story about the plight of Chinese peasants really pulls at your gut. A must read, it is topical, thought provoking and appropriate for our market planning.
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Format: Hardcover
By now, we all know that "The World is Flat", and globalization (whatever that really means), is a fact, like it or not. But do we really understand global connections? In this interesting production of 14 magazine formatted articles - interjected with educational pieces on credit markets and currency, world stock markets, and oil's economic importance - economic writer, Daniel Altman asks the reader to do some thinking about how the global economics work. Altman asks 14 different questions with regard to global economics, and then does some educating on the subject using real time (15 June 2005) situations to argue both sides of the question.

If you are interested in, "Who really controls the world's money supply?" or, "Is immigration a luxury or a necessity?" then you will find this book of interest. Altman does not attempt to connect the dots for you, but the questions and the stories should give you `food for thought' about the development of our global economy. As the book is constructed using an article format, it is an easy read, even if the subjects are a bit on the `heavy' side. If you are a fan of The Economist magazine, this is a book for you.

Dennis DeWilde, author of
"The Performance Connection"
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Format: Hardcover
The author is a journalist with a doctorate in economics from Harvard. He's written a nice book on the global economy. It's a fun read, and an easy read. Some will agree with him. While some won't. But at least the book gets one thinking.

Besides blurbs on credit markets & currency, stock markets, and oil, the book has 14 chapters as follows:

1. When does working together really work?

2. Can governments make global markets more competitive?

3. Do multinational companies bring progress or problems abroad?

4. What determines the global economic pecking order?

5. Who really controls the world's money supply?

6. What does corruption cost?

7. How important are financial markets to economic growth?

8. Is the financial system becoming more vulnerable to the actions of a few?

9. Which comes first, political or economic stability?

10. Can the United States set the global economy's rules?

11. Is immigration a luxury or a necessity?

12. Does it help the economy when ideas have owners?

13. Can a poor country get rich too quickly?

14. Do disruptive shocks help the economy in the long term?

I can't say I had a favorite chapter. And I agreed with some of the thoughts and disagreed with others. But I enjoyed reading the stories included. 4 stars!
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Format: Hardcover
Economist Daniel Altman's book is a behind-the-scenes glimpse at the global economy. With tangible examples, opinions from the executives, worker bees, and the guys on the street, and detailed anecdotes ripped straight from the headlines of the dot com boom and beyond, Altman's essays make abstract concepts authentic. His gives context to big macroeconomic vocabulary terms and provides a framework in which the reader can develop his or her own opinion on hot button issues. Altman gives examples and raises enough probing questions that the reader will walk away with a profound appreciation for the lack of black/white good/bad thinking when it comes to globalization.

The story of the global economy is told via 14 snapshots (chapters) of action around the world on one day--June 15, 2005. The chapters range in topic from corporate mergers to anticompetitive practices to currency markets to U.S. dominance. Each chapter is a well-developed stand-alone essay. The weak point is the gimmicky nature of the book--using a time-stamped first-person journal entry from a global market "player" in each chapter to expound upon the topic at hand. The first-person entries add nothing to Altman's already well-crafted text, and by chapter 14, they are a tedious distraction from an otherwise excellent book.

Altman's book is a quick read full of necessary history, politics, and economics for every citizen of the modern world.
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Format: Hardcover
A quick enjoyable read that rides the global economic rollercoaster. The book is more of collection of stories and light theory loosely tied together under the rubric of economic globalization. It is heavier than most media pieces but much much lighter than any work on economic theory.

I found it to be a great little book for people who always wondered about global economic theory and trends, but not enough to grind through the real heavy academic tomes on the subject. The book avoids the "politics" of globalization, but I am sure that those who are anti-globalization will fault the book for not being anti-globalization enough.

The author never claims to be writing "the" book on globalization, instead it is a snapshot of one day and it definitely shows how fast paced and never-ending today's global economy really is.
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